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Hunter Biden’s ‘Laptop’ Crypto Coin Plummets Upon Launching
Confirmed
In Short: Hunter Biden’s newly launched LAPTOP memecoin experienced a brief but dramatic valuation spike, reaching a fully diluted valuation of $144.96 billion, before crashing to a liquidity pool of just $48,000.
Hunter Biden’s newly launched LAPTOP memecoin experienced a brief but dramatic valuation spike, reaching a fully diluted valuation of $144.96 billion, before crashing to a liquidity pool of just $48,000, according to blockchain analytics firm Arkham Intelligence.
Blockchain analytics firm Arkham Intelligence reported that LAPTOP launched at approximately 8:02 p.m. and reached its peak price only two minutes later, at around 8:04 p.m.
Prominent trader DonAlt called the launch an utter embarrassment, writing that Biden had ‘finally been handed a platform’ and used it to launch a memecoin.
Crypto exchange Kraken deleted a post promoting the token after traders questioned why it was advertising another political memecoin, though the exchange has not dropped plans to list $LAPTOP.
What's still developing
- The FDV of the coin is currently $144B and the liquidity pool contains $48K. pic.twitter.com/9yvDk6r2sB Yet Arkham said the liquidity pool contained only around $48,000.
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- The Wall Street Journal first reported the plan, and Biden confirmed it on X on Monday with the ticker and a montage of news anchors discussing the laptop he left at a Delaware repair shop in 2019.
- Years later, Biden is trying to financialize that notoriety by turning the joke into a token.
- Elsehwere, Callaghan said neither he nor his Channel 5 program had anything to do with the coin, despite a Channel 5 mailing list being included among groups eligible for $LAPTOP ’s planned airdrop.
- Channel 5 does not consider crypto a legitimate investment, Callaghan told the Wall Street Journal.
- The token deploys on Base, the network Coinbase built, with a supply of one billion.